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What does the term “normal retirement age” mean?

April 26, 2017mean normal retirement age term

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What does the term “normal retirement age” mean?

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Normal retirement age means the earlier of: 1) The time specified by the 401k plan at which a participant reaches normal retirement age; or 2) The later of : a) The date a participant reaches 65, or b) The first day of the plan year in which occurs the fifth anniversary of the date a participant commences participation in the plan. See I.R.C. Section 411 (a)(8); Treas. Reg. 1.411(a)-7(b).